When to worry about a house not selling
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Putting your house on the open market brings with it all kinds of challenges and issues. You have to tidy, prepare for viewings, choose an estate agent, and set an asking price amongst other worries and stresses.
The last thing you want to worry about is your home not selling. However, this is a reality that many homeowners may find themselves facing. If you have found yourself wondering "Why won't my house sell" then read on.
In this blog post, we will be looking at the reasons why you may be struggling to sell, what your selling options are, and how we can help you sell in as little as 7 days...
Is your asking price too high?
One of the first things you may find yourself asking when you have been sitting on the market for months is: "is my asking price too high?" Overpricing your property can be a fatal move when it comes to house sales. Asking too much for your property will turn buyers away and will result in you spending much longer on the market than is ideal.
As most property sales are done online, people will search online property portals to find their next home. By setting your asking price too high, people may not see your house as it will be out of their budget.
You will also run the risk of losing out on a property you really want, as you will not have sold your current property and are as a result not able to afford the next one without the cash funds.
How do I know if my house is overpriced UK?
Thankfully, there are several tell-tale signs that your property is overpriced. The biggest and most obvious sign is that you have had no prospective buyers round to view your property within the first two weeks of being on the market.
When you first put your home on the market, you should be getting a decent amount of views on any online property portal you are marketing on, such as Rightmove, Zoopla or OnTheMarket. If this isn't the case, then alarm bells should be ringing.
Other warning signs you shouldn't ignore include:
Your asking price is much higher than other similar properties in the area.
Other properties in your local area are selling quickly, but yours remains.
Receiving offers but having buyers pull out due to mortgage companies valuing less than the buyer offered.
Getting viewings but no offers
Reasons why your house isn't Selling
There are many reasons why your property may not be selling.
Below are some of the most common reasons why your house may not be selling:
Too much clutter
One of the reasons why you may be struggling to sell your home is you have too much clutter. When potential buyers, they want to see a bright, clean property with minimal clutter on display. It is no secret that clean houses not only sell faster, but they can often sell for more. Before any viewings or estate agent visits it is a good idea to not only have a deep clean of your property but also a decluttering session.
Go through your belongings and either put away or throw out anything that is not necessary. When buyers look around your home, it should feel like a showroom. This is because buyers like to be able to imagine themselves living in a property, and if it is cluttered they will find it very hard to do this. By decluttering your home you will have your house looking brand new in no time.
Your photos aren't doing you justice
If you are struggling to sell your property, it may be because your estate agent's pictures are not doing your home justice. Well-staged photos are one of the keys to a quick sale.
In order to ensure you have the best pictures possible of your home, be sure to:
Stage your home in a way that is visually appealing, this means no magazines out on the coffee table, no washing up in the sink, and no towels on the bathroom floor.
Be sure to temporarily move things around if they make rooms look cramped and small, this is your chance to really sell your home to any potential buyers
Book your photography session at the right time of day. Make sure you can make the most of natural lighting and at the right angle.
You have no kerb appeal
If you have a garden that is lacking a little TLC then you are doing yourself a great disservice. A survey by Home Owners Alliance found that a staggering 68% of buyers considered kerb appeal an important factor when choosing their next home.
Whilst it can sound like a daunting task, you don't have to go overboard. Simply mowing the lawn, removing any weeds, cleaning your patio, planting fresh flowers, and repainting any tired-looking garden fences can do your garden the world of good and generate interest in your property.
You are avoiding property portals
Marketing your property is a huge key to the success of your sale. And with most sales happening online, portals such as Zoopla and Rightmove can make all the difference between finding a buyer and remaining on the market. It is critical to ensure your home is listed online as it is the best way to market your house and reach the most potential buyers.
You are missing floorplans
Another reason why you may be struggling to sell your home is that your listing is missing floor plans. When you put your home on the open market, you want to convince buyers that this is the house for them.
The best way to do this is to provide them with as much information as possible about the property. It may not seem that important, but a floor plan can really bring your property to life and pique the interest of buyers.
You are part of a long property chain
Another reason why your home isn't selling is because you’re in a long property chain. If prospective buyers catch wind of your situation, it may put them off. Long property chains bring with them delays and hassle, which are two things buyers are keen to avoid where possible.
Your property is not suitable to mortgage
You may be languishing on the market because your property is not easy to mortgage. Properties that you may struggle to mortgage can include ex-public houses, homes made from unusual materials, houses with short leases and flats above shops all require specialist mortgages.
It's not the right time of year to sell
Whether or not it is a good time to sell your house can also have a knock-on effect on your property sale. The time of year you go on the market matters as buyers will be more active at certain times of the year than others.
According to research done by The Advisory, March is the best time of year to sell your property, with the average seller spending 57 days on the market. Summer and winter are often regarded as the worst time of years to sell your home as buyers are preoccupied with the summer holidays and Christmas.
Do more expensive houses take longer to sell?
Whether or not a more expensive property takes longer to sell depends upon the asking price. As we have already mentioned, if you have overvalued your property, then you may struggle to sell. However, if you have priced your property appropriately, then you should not have much trouble being able to sell.
What not to fix when selling a house?
When selling a house, it can be easy to get carried away when it comes to making repairs. On the one hand, having a house that is in disrepair can turn buyers away or risk them reducing their asking price, but you also don't want to spend more than it is worth fixing any issues.
When you are preparing your home for a sale, general quick repairs are the best kind to make. This means any loose tiles, leaky taps, mould or damp spots, broken lightbulbs and unfinished DIY projects should all be sorted by the time estate agents and potential buyers come around.
Areas to avoid when selling a house are investing in new fixtures and furniture unless absolutely necessary. Fix any small areas such as leaks, but don't go overboard on purchasing new appliances, as many buyers will have their own or may prefer to fix it themselves.
If you have any broken or chipped tiles then you may be better off leaving these for the next buyer. As they can be difficult to fix, it is better to let your buyer sort it. This way they can replace them with designs and styles they like.
Whilst it is important to have your property looking in good condition when hosting viewings, avoid purchasing expensive wallpapers or paints to redecorate. Whilst it will look good, it will not add enough value to make it worth your while. Feel free to give any walls a quick touch-up with paint, but don't leave yourself out of pocket as a result.
What should you not say when selling a house
When hosting viewings, it is natural that your buyers may have questions for you.
However, there are certain questions that it is best to avoid if you can, lest you turn buyers off from your property.
Below are things that you should try and avoid saying to potential buyers when selling a house:
Your reasons for selling
How long you have been on the market
How many offers you have received
If you are willing to negotiate
How much you are willing to negotiate by
If you are under time pressure to move
My house isn’t selling, what are my options?
When it comes to selling a property you can't seem to shift, it may feel as though you have no options.
However, this is not the case. Whilst an estate agent may feel like the only option, there are many routes out there. The two most popular ways to sell a house besides with an estate agent are either though a property auction, or you can sell through a cash buyer. As with any selling option, there are pros and cons to each of these. Below we take a deep dive into each of these choices, and the pros and cons that they bring.
Property Auction
If you have been stuck on the market for months and are starting to get doubtful that your house will sell, then a property auction is a route well worth exploring. Property auctions are ideal for those with an unusual property that they wish to sell.
A big advantage to selling through a property auction is that it tends to attract serious buyers. This is because once the gavel goes down, the winning bid becomes legally binding, meaning if a buyer tries to pull out they will not be able to do so without facing legal consequences.
Another advantage to selling through a property auction is that auctioneers have a lot of experience in selling properties that have spent a lot of time on the open market, as well as problem properties.
However, it is worth bearing in mind that this method of selling can also bring with it some downsides. One such drawback is that selling on an action involves a lot of waiting, which if you are looking for a quick sale or have already been on the property market for months is not ideal.
Once you have listed your property with the auction house, you will then have to wait for the next auction, which could be months away.
Even once you have a buyer, you will still need to wait for the paperwork to be completed and processed which can take a month or more and adds to the delay.
On top of this, the auction house will then take a percentage of the sale price to cover the cost of marketing and selling your home, which can eat away at the profit you get from the sale.
Cash Buyers
If you are looking to get your property off the market and sell your house fast, then a cash buyer could be the route for you. Unlike a property auction, a cash buyer is able to purchase your property as soon as you are ready to sell. No more waiting for the next auction sale or for the sale to go through.
The exact timeline it takes to sell your property with a cash buyer varies from company to company, but here at The Property Buying Company, we can do it in as little as 7 days.
Another upside to selling through a cash buyer is that you can say goodbye to estate agents' fees. And as an added bonus, when you sell with us, you not only avoid the estate agent's fees but also the legal fees associated with selling your home.
How to get rid of a house you can't sell?
Have you spent months on the open marketing waiting for a seller and coming up empty? Perhaps you have hosted viewings after viewings but still can't seem to find a buyer? Or maybe you just want a house sale that is fast and free?
Whatever your motivations are, here at The Property Buying Company, we are here to help.
We are proud to offer a free, fast, and hassle-free way to sell your home. We will buy any house, in any condition, and in any location! If you don't want to spend months on the open market looking for a buyer, we can purchase your home in a timeline that suits you, whether that's three months from now or in as little as 7 days.
We are also proud members of the National Association of Property Buyers and The Property Ombudsman, as well as being rated excellent on Trustpilot.
Unlike an estate agent, we only require one quick viewing to make sure our cash offer is correct. Once you have accepted the offer, that is the amount that you will get in cash in full in your bank!
Plus, as a thank you for choosing us, we will cover all of the solicitor and conveyancer fees typically associated with selling a home - It's just one of the ways we make selling easy.
Ready to sell fast and for free and get off the open market for good? Then give us a call today or fill in our online valuation form to receive a no-obligation CASH offer which we could have in your bank in as little as 7 days...
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